Bitcoin prices
Wednesday was another day in the 4,569 days of uninterrupted success that the bitcoin network has enjoyed.
Bitcoin’s price is at an extremely important level for traders and a potential bull run to close 2021 could be determined in the following weeks.
The BTC price is teetering around $33,3k at the time of writing and has put in some of its lowest levels of volatility for some time over the past few weeks. Is this the calm before the storm?
Bitcoin’s Fear and Greed Index that measures community sentiment around the world’s premiere digital asset is at a reading of 20 and down 8 points from Tuesday.
BTC is back in the Extreme Fear region after spending a short time in the Fear region of the index.
The below analysis from VincePrince shows his belief that BTC will confirm a breakout of the symmetrical triangle it’s still within on the 12 hour chart. If BTC can get above that trend line and get a close above it on a significant timescale it could be time to leave this range behind to the upside.
That’s a rosey vision for bulls but bears won’t give up so easily. If bears can again push the price back below $33k then beneath $30k will be the following target.
BTC’s 24 hour range is $33,099-$35,091 and Bitcoin’s 52 week range is $9,092-$64,374.
Wednesday’s BTC candle close of $33,886 [-.74%] is still within the range it’s been trading in for more than a week and BTC dominance is 42.7% at the time of writing.
BNB Analysis
Binance Coin looks to be turning the proper corner and over the past week has posted green figures. BNB is +15.25% for the last 7 days at the time of writing and the negative momentum on the monthly timescale is beginning to wane [-12.15%].
BNB is +441% for the last 12 months against BTC and +105% against ETH over the same span.
The below chart shows the 3 targets in the short term that bulls will be setting their sights on if macro price action stays positive.
Hamidkhalkhali points out that $400, $450, $500 are the short term targets for bulls to the upside. Failure to stay above $251 could spell a trip back to the bottom of the current range to $200.
BNB’s 24 hour range is $317.13-$340 and its 52 week range is $16.59-$684.83.
Binance Coin closed Wednesday’s daily candle worth $327.67 [+3.44%].
